With virus cases still rising, it is too early to talk about adjusting monetary policy or changing the pace or scale of the Federal Reserve's asset purchases, Cleveland Federal Reserve Bank President Loretta Mester said Tuesday.
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Jan 11 (Reuters) - Americans remained anxious in December about their job prospects during the pandemic, and people’s expectations for finding new work after becoming unemployed plunged to the lowest level since February 2014, according to a survey released on Monday by the New York Federal Reserve.
Consumers estimated they had a 46.2% chance of finding jobs after becoming unemployed, down from 47.9% in November.
Workers also said their odds of becoming unemployed were slightly higher, with the perceived chances of losing a job over the next year rising to 15.0% in December from 14.6% in November. The increase was driven by people without a college education.
The U.S. recovery will not get up to full steam until vaccines are distributed widely enough to end the pandemic, Atlanta Federal Reserve President Raphael Bostic said on Monday.
Richmond Federal Reserve President Thomas Barkin on Monday said he is more worried about the labor market than possible excess inflation as he assesses the effects of the pandemic, the rollout of vaccines, and past and future fiscal relief on the economic outlook.